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  • Mark Evans

The Trough Of Disillusionment

When launching any new technology product or service it's wise to build extra time into the business plan for customer or market adoption. It's always easy to assume that you know what your customer wants and how your product or service will marry with their needs. From a strategic perspective you will need a deep dive on the Value Proposition(s) but that's not my point here.

What any business owner or leader must factor into their forecast and plan is the variable of TIME and how this can drain any business both financially and emotionally of funds and human resource. It's exciting to create a new technology and one that is revolutionary and never been seen before, i know how this feels. However there are a multitude of reasons why it takes time for markets and customers to rally to a new product. Either way it burns time and cash to survive and maintain the company and products visibility over time.

I refer to Gartners Hype Cycle to visualise the process albeit this is normally used for large scale evolutionary shifts such as blcokchain technology, it bears significance for entrepreneurs and investors looking for a taste of global success with their product. I always advise business owners to double their 'to market' timings, be financially prepared for being aggressive in maintaining visibility, through a dedicated marketing strategy and most of all be patient, this can't be rushed.

Gartner Hype Cycle


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